D’Arcangelo Blog

The Tax Cuts and Jobs Act: Important Changes for Individuals

The 2017 Tax Cuts and Jobs Act (H.R. 1) was approved by Congress and signed into law by President Trump on December 22, 2017. This historic tax bill impacts every individual and business filer, as the bill includes major changes in tax rates, deductions, and credits. What are the key changes for individuals to beContinue reading →

The Tax Cuts and Jobs Act: Important Changes for Businesses

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act (H.R. 1), which makes sweeping changes to the U.S. tax code and impacts almost every type of taxpayer. For businesses, tax benefits include a reduction in the corporate tax rate, increase in the bonus depreciation allowance, an enhancement to the Code SectionContinue reading →

New York’s New Paid Family Leave Law: What Employers Need to Know

The Paid Family Leave (“PFL”) law coming into effect on January 1, 2018 will be employee funded. The PFL benefits will be provided through insurance coverage, included under the employer’s mandatory disability benefits policy. Due to the intricacies of the law, it is important for employers to fully understand and prepare for the new requirements headingContinue reading →

Overlooked Investment Options

The second-best investment you can make is paying off high interest rate debt. That could come after you’ve contributed enough to your 401(k) to get a full match from your employer. What should come next? If you have no expensive debt to pay down and you’re getting the full employer match, where should you directContinue reading →

Wealth Management: The Rebalancing Act

Investors may put together their own asset allocation, or they might work with an investment professional. Either way, the challenge is to maintain the desired allocation through the ups and downs of the financial markets. The answer generally recommended by financial advisors is to rebalance periodically. Studies indicate that savvy asset allocation may lead toContinue reading →

Solo 401(k) Plans

Among major corporations, 401(k) plans have become common, but even the smallest of businesses can have a 401(k) plan for retirement. One-participant 401(k) plans, known by names such as Solo 401(k) and Uni-k, are available. For some business owners and self-employed individuals, Solo 401(k)s may offer a chance to save more for retirement with taxContinue reading →

Dealing With An IRS Audit

It’s important to know what to expect if you are audited. Furthermore, understanding your options may help you proactively address the risk and to assess how to administer benefit plans to your employees. Traditional defined benefit plans, structured to provide a lifelong pension, have become rare in the private sector. They’re still the norm forContinue reading →

Thinking of Buying a Vacation Home?

Though winter managed to hit us with one last, dizzying storm Stella, many of us were inside earlier this month dreaming of summer. Many people are planning vacations now for later this year.  At this time, you might be weighing the purchase of a second home specifically for vacations. Here are some of the issuesContinue reading →

How Does An ESOP Work As A Retirement Plan?

ESOP – Employee Stock Ownership Plans.  As the title indicates, an ESOP is a process for transferring ownership of the company to employees. How does that work as a retirement plan? In some ways, an ESOP is similar to a profit-sharing plan (see the CPA Client Bulletin, January 2017), in which the company makes cashContinue reading →

After-Tax Dollars in Traditional IRAs

Workers under age 70½ can deduct contributions to a traditional IRA, as long as they are not covered by an employer’s retirement plan. The same is true for those workers’ spouses. If these taxpayers are covered by an employer plan, they may or may not be able to deduct IRA contributions, depending on the taxpayer’s income.Continue reading →